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New York Medical College Endowment Fund

Name: New York Medical College

Assets Under Management: $346.3 Million (Source: New York Medical College on 6/30/2014)

Annual Report: New York Medical College Financial Statements June 30, 2014 and 2013 (With Independent Auditors’ Report Thereon)

Portfolio Insights: “New York Medical College (the College), a member of the Touro College and University System, is a health sciences university whose enrollment approximates 1440 students. The College is committed to educating individuals for careers in the medical, science, and health professions. The College’s endowment consists of approximately 102 individual funds established for a variety of purposes. The endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments.

Credit funds consist of investments in assets such as distressed and current pay bonds and bank debt, mortgage-backed securities, both residential and commercial, as well as post re-organization equity liquidations. Multi-strategy funds consist of investments in multiple investment strategies including but not limited to hedged equity, event driven, and diversified hedge.” (Source)

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Top New York Medical College Endowment Fund Headlines:

1) The College was founded in 1860 by a group of New York City civic leaders led by the noted poet, editor and orator William Cullen Bryant, who was concerned with the primitive conditions of hospitals and medical education at that time.

Located in Westchester County, New York, the College is chartered by the Regents of the State of New York and accredited by the Middle States Association of Colleges and Secondary Schools, the Council on Education in Public Health (CEPH), the American Speech-Language Hearing Association (ASHA), the Commission on Accreditation in Physical Therapy Education (CAPTE), the Liaison Committee on Medical Education (LCME), and the Commission on Dental Accreditation of the American Dental Association.

New York Medical College joined the Touro College and University System in May 2011, creating one of the United States’ largest biomedical higher education consortiums under one institutional banner. Presently, New York Medical College has more than 1,400 students, 1,338 residents and clinical fellows, more than 3,000 faculty members, and 12,706 living alumni. (Source)

2) Alan Kadish, M.D. became president of New York Medical College in May, 2011, when the College joined with the Touro College and University System, creating one of the largest affiliations of medical and health education and biological studies programs under one institutional banner. Dr. Kadish concurrently serves as president and chief executive officer of the Touro College and University System. Chartered in 1970, Touro has grown to become the largest Jewish-sponsored educational institution in the United States, educating approximately 19,000 students at 32 locations throughout the world.

Alan Kadish was born in Brooklyn, raised in Queens and educated in yeshivas in New York. He received his M.D. degree from the Albert Einstein College of Medicine at Yeshiva University and his postdoctoral medical training at the Brigham and Women’s Hospital, an affiliate of Harvard Medical School, and at the Hospital of the University of Pennsylvania, where he was a fellow in cardiology. He is board certified in internal medicine, cardiovascular disease and cardiac electrophysiology. (Source)

3) Born and raised in Somerville, N.J., Edward C. Halperin graduated from Somerville High School. He received a B.S. in Economics, Summa Cum Laude, from The Wharton School of the University of Pennsylvania, his M.D., Cum Laude, from Yale University, and an M.A. from Duke University. He completed his internship in internal medicine at Stanford University and his residency and chief residency at Harvard Medical School/Massachusetts General Hospital.

Dr. Halperin was on the faculty at Duke University for 23 years, where he rose to become professor and chairman of the Department of Radiation Oncology, vice dean of the School of Medicine and associate vice chancellor. He held two endowed professorships, served as chairman of the Finance and Audit Committee of the faculty practice plan, was chair of the endowed professors committee and was a member of the promotion and tenure committee, the faculty senate and elected member of the senate’s executive committee. He was named a fellow of the American Council on Education and spent a sabbatical devoted to understanding the work of a university president and provost, serving as an administrative intern to two presidents and two provosts. (Source)

4) Jan 3, 2010 – Today is an auspicious day for Touro College. At a reception at the Bryant Park Grill, President Alan Kadish, MD, announced that the New York Medical College will be joining the Touro College and Touro University family of institutions. With this new school, Touro College now educates over 2,500 medical students. These medical students are steeped within rich traditions of osteopathic and allopathic medicine.

This is particularly important because this acquisition allowed Touro College to be true to its mission. New York Medical College needed to affiliate with a major college and university system in order to continue into the future. Recognizing the value to medical education and service, allied health education, and medical research, Touro stepped in so that a valuable asset to society can continue. Through this action, Touro College will be able to help New York Medical College continue to meet society’s needs while expanding the scope and depth of the already rich offerings of our colleges. (Source)

5) Good Samaritan Regional Medical Center will be a teaching site for New York Medical College’s health sciences education programs in a new academic affiliation announced on Thursday by the school in Valhalla and hospital in Suffern. The 286-bed Rockland County hospital is one of three hospitals in the Bon Secours Charity Health System in the lower Hudson Valley.

The institutional partners said they will start a clerkship program at the hospital for the training and education of the Westchester school’s undergraduate medical students on rotations in pediatrics, obstetrics/gynecology, neurology and other disciplines.

Noting there are many New York Medical College alumni on the Good Samaritan medical staff, Dr. Edward C. Halperin, the college’s chancellor and CEO, said the partnership “presents a unique opportunity to continue our common mission to provide the highest caliber of care to those we serve and the best possible medical education to those we teach.” (Source)

About Richard C. Wilson